The brokerage sees car sales rising 5.1% in FY26 and 5.2% in FY27
Northern and eastern states gain ground as southern auto markets lose share
Uneven pass-through of GST rate cuts in essential goods segments
This is the first time in a decade that Maruti Suzuki has topped one lakh deliveries during the Navratri days, reflecting strong demand. The auto major expects to sell 2 lakh vehicles in this festive season.
The total sales of three wheelers and two wheelers posted a growth of 8.3 percent and 7.1 percent respectively in August, SIAM said.
The start of the festive season in August with Onam and Ganesh Chaturthi is expected to boost the demand in the Indian car market.
Repo rate cuts and above normal rainfall forecast are expected to give a positive push to the auto sector going forward.
'February witnessed a broad-based downturn across all categories,' FADA President C S Vigneshwar said in a statement
Of the 90,354 EV four-wheelers registered across the country in 2024, 6.6 percent or 5,926 belonged to brands whose cars were worth over Rs 20 lakh
Domestic sales of India's top four carmakers - which form 80 percent of the country's car market - rose 1.8 percent from a year ago
Even with the launch of new models in recent years, cars like Hyundai Santro, Tata Tiago NRG, and Maruti Wagon R have 'consistently' delivered exceptional resale value, said the report.
The Trump administration's plans to revoke subsidies for electric vehicles is being seen as a headwind for the company's US plans. Hyundai, along with Kia Motors, where it owns a stake, have been highly popular EV options, second only to Tesla Inc, though by a wide margin.
While Pune leads in CNG sales (35,144 units), Delhi is second with 31,529 units, followed by Mumbai at 24,056 units (January-September ‘24).
'We could have fully met or even exceeded our targets of 45 lakh units if not for the unseasonal heavy rains in South India,' says FADA
Maruti Suzuki said it has been calibrating production to reduce dealer inventory, which had reached well over 30 days, and the measures will start showing results from the end of this month.
PV sales saw steep decline of 18.81% YoY while CV sales fell 10.45% YoY, 'reflecting subdued market conditions and weak government spending', says FADA
Overall, sentiment in the automotive space remains favourable, driven by a sustained recovery among first-time buyers, especially in rural areas.
According to data issued by the industry body Society of Indian Automobile Manufacturers (SIAM), the total passenger vehicle dispatches in the domestic market stood at 3,52,921 units last month compared to 3,59,228 vehicles in August 2023, a dip of 1.8 per cent.
The company had dispatched 3,45,848 units to its dealers in the same month last year, TVS Motor Company said in a statement.
The company sold a total of 71,435 units in August 2023, the automaker said in a statement.
"This success is a testament to the company's strategic optimisation of the products, making our vehicles most compelling and value-for-money," Kia India Senior Vice President and National Head of Sales & Marketing Hardeep Singh Brar said in a statement.
The two-wheeler segment registered a decent sales growth of 12.5% in July 2024 as compared to a year ago at 14.42 Lakh units, said SIAM.
Maruti's total domestic Passenger Vehicle sales (PV) was at 1.37 lakh units, marginally higher compared to a year ago.
The SUV segment continued to contribute a major chunk of volumes at 1,81,044 units, which is 53.5 percent of the total PVs sold in the domestic market in April